If you write your Budget Life Insurance policy into Trust, you can choose who distributes the pay-out of the policy. A policy in Trust could speed up the process of pay-out after a claim and is not generally considered for inheritance tax purposes as part of your estate. If your policy is not written into Trust, dealing with the policy and the deceased’s estate could be more difficult.
A Trust passes the Death Benefit from your policy straight to the people you indicate you’d like to benefit (beneficiaries). The payments fall outside of your estate, so we don’t have to wait to probate to pay a claim and help you deal with inheritance tax in a more efficient way.